Ford must end auto insurance gouging: Kernaghan

LONDON – NDP Consumer Protection critic Terence Kernaghan released the following statement on the news that Ontario’s auto insurance companies made record profits during the pandemic, despite substantially reduced driving and fewer accident claims:

“Throughout the pandemic, we’ve seen fewer drivers on the road - that's because Ontarians did the right thing by staying home and only travelling when necessary.

While everyone else was making tough sacrifices, Ford allowed auto insurance companies to rake in record profits by charging families high insurance rates while only paying out half of the premiums they received.

Families need a break. If claim payments are down by half, then Ford must stand up for families, put an end to auto insurance price gouging and decrease premiums by 50 per cent right away.”